Norea Cove Residences's Kelvin ChuaThe Epitome of Luxury | Prestige Online

Kelvin Chua, CEO of AKRAM Development Co., Ltd, shares his vision for a new era of luxury living in Cambodia.

Tucked away in a unique part of Cambodia, Norea Cove Residences is a testament to a grander vision. Shifting from a commercial centre to an opulent haven, it’s reshaping the lifestyles of Cambodians. Under the investment of CEO Kelvin Chua, AKRAM Development Co., Ltd envisions this real estate venture as an opportunity for buyers to embrace opulence, both in their homes and their way of life. In an exclusive conversation with Prestige, Kelvin shares critical insights.

What’s your take on Cambodia’s luxury lifestyle market?

When I first came here nine years ago, Cambodia was behind in products, services, and even amenities like shopping malls. Aeon Phnom Penh was just about to open at that time. Compared to now, many local developers, as well as foreign investments, have entirely changed the landscape. The high-rise buildings of condos are everywhere nowadays.

How does Norea Cove Residence’s investment align with the Cambodian way of life?

With our experience in building luxury properties in Singapore, we understand the key components required for building a home. If we were to copy everything that we built in Singapore, it would not have worked here. Every country has a different culture, and everybody values different things. In the Khmer lifestyle, people like to invite their friends over for parties and host big family dinners. The families here in Cambodia are pretty significant in size. So, we also carefully considered the kind of floor space, facilities and amenities that we are providing. We wanted to curate houses with the concept of accommodating two to three generations. Hence one other factor we had to consider was the car parking lot. Even though we have this kind of modern architectural design, we still offer the same luxurious product, but carefully curated with a Cambodian flair.

How do you stay updated with architectural technology trends?

I never studied architecture or design, but I was always fond of beautiful buildings and structures. I travel quite a bit, and whenever I see something that interests me or catches my attention, I take an in-depth look into it. I believe that all architecture has its own charm and that there is always a story behind it. I genuinely hope that our buyers will understand the story that we want to create for them. Currently, we are constantly researching the latest trends, and in our future projects, we will incorporate more of these findings into our designs.

Is sustainability and eco-friendliness a significant aspect of your developments?

Sustainability is essential. Our houses are EV-ready, and I believe we are the only ones currently doing that. This means we have the capacity ready for an EV charger. If you buy an electric vehicle, you would usually also purchase an EV charger to charge it. However, if your incoming power is insufficient, you won’t be able to install the EV charger. All our houses also come with solar panels. The electricity bill for large houses like ours can be quite high without these measures. Of course, there is always a fine line between luxury and sustainability, which is always a challenge in the luxury industry.

What are your expectations for Norea Cove Residences in the next five years?

Koh Norea is a unique one of its kind location. If we compare the prices to Koh Pich’s, I think with the completion of the bridge, there’ll be at least a 20% to 30% growth in the next two to three years. If you talk about the next five to ten years, when the corner island is developed with more buildings, the price will definitely increase significantly, maybe even on par with Koh Pich Island. We believe that we have a uniquely prime location compared to our competitors. Our buyers will appreciate the value that we provide. For our products, we work with many European brands like Gessi, Duravit, Geberit, Olivari, Vzug, Blum, Schindler, and Lamitak to further enhance the living experience in our homes. Back in Singapore, we know that those brands can elevate our lifestyles, and we want to bring these brands to Cambodia as well. Our customers will get both luxurious houses and a modern lifestyle experience.

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The information in this article is accurate as of the date of publication.

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